Alamo Group to Acquire Bandit Industries

Alamo Group Inc., headquartered in Seguin, Texas, has entered into a letter of intent to acquire Bandit Industries Inc. and its related affiliates. Bandit designs, manufactures, distributes and services wood and brush chippers, whole tree chippers, stump grinders, forestry mowers and other related equipment. Alamo Group and Bandit have received approval for the acquisition under the Hart-Scott-Rodino Act. The finalization of the transaction is subject to completion of an acquisition agreement and certain other pre-closing requirements.

Bandit, based in Remus, Mich., principally sells its products across North America and international markets through independent agents and dealers as well as direct to certain markets and customers. Upon completion of the transaction Bandit is expected to become part of Alamo's North American Industrial Division. Manufacturing and operations for Bandit will continue at Bandit's existing Michigan site.

Ron Robinson, Alamo Group's president and CEO, says, "This is an exciting development for Alamo. Bandit is a well-respected and major player in the tree care, land and utility line clearing, recycling and biomass energy markets. This acquisition would greatly broaden our presence in the area of vegetation maintenance. We believe this combination would be further enhanced by Alamo's strong international presence."